Vanguard to create UK financial advice business

The asset manager has written to independent financial advisers to reassure them it is not trying to replace them

Sean Hagerty, head of Europe at Vanguard

By

Mark Cobley

January 9, 2020 2:00 pm GMT

Vanguard, the low-cost index funds giant whose UK launch shook up the investment industry nine years ago, is set to expand its offering into retail financial advice.

The US company has been granted regulatory permissions from the Financial Conduct Authority to launch the business, it said on 9 January, but added its plans are at an early stage and there is “not currently a timescale for bringing a proposition to market”.